SECURITY
NATIONAL FINANCIAL CORPORATION
5300
South 360 West, Suite 250
Salt Lake
City, Utah 84123
Telephone
(801) 264-1060
March 20,
2009
VIA
EDGAR
U. S.
Securities and Exchange Commission
Division
of Corporation Finance
100 F
Street, N.E., Mail Stop 4561
Washington,
D. C. 20549
|
Attn:
|
Sharon
M. Blume
|
| Assistant Chief Accountant |
|
Re:
|
Security
National Financial Corporation
|
|
|
Form
10-K for the Fiscal Year Ended December 31, 2007
|
||
|
Form
10-Q for Fiscal Quarter Ended June 30, 2008
|
||
|
File
No. 0-9341
|
Dear Ms.
Blume:
Security
National Financial Corporation (the “Company”) hereby supplements its responses
to its previous response letters dated February 20, 2009, January 15, 2009,
November 6, 2008, and October 9, 2008. With this supplemental
response is provided as additional information concerning the Company’s mortgage
loan operations and the appropriate accounting that the Company follows in
connection with such operations.
The
Company has also included in this response the table that was part of its
November 6, 2008 reply to the Securities Exchange Commission to assist in
explaining the methodology that the Company follows in determining fair value of
the mortgage loans repurchased. In the table the Company has changed
the heading “Loan Principal Amount” to “Unpaid Principal Amount on Date of
Repurchase.” In addition, the Company has added two columns showing
the “Fair Value at Repurchase Date” and the “Unrecognized Gains and (Losses)”
with respect to the mortgage loans.
The fair
value at the repurchase date was based upon the following criteria:
|
|
·
|
For
loans where there was a market, the Company used the market price on the
repurchase date;
|
|
|
·
|
For
loans where there was no market but there was a similar product, the
Company used the market value for the similar product on the repurchase
date; and
|
|
|
·
|
For
loans where no market existed on the repurchase date, the Company
determined the unpaid principal balance that best approximated the market
value on the repurchase date, after considering the fair value of the
underlying real estate collateral and the estimated future cash
flows.
|
The
appraisal of the collateral of the original loans adds significance to the
Company’s determination of fair value because if any of the loans become
delinquent the Company has sufficient value to collect the unpaid principal
balance or the carrying value of the loans.
In
determining the fair value on the date of repurchase, the Company considered the
total value of all of the mortgage loans because any sale of loans would be made
as a pool. As shown on the table, the total fair value at the date of
repurchase was $36,379,793, which is in excess of the cost of $36,290,743. The
repurchased mortgage loans were recorded at the cost of the outstanding
principal balance of the loans. The aggregate fair value of the repurchased
loans was $89,050 greater than the outstanding principal balance of the loans.
This excess of the fair value over the cost of the mortgage loans was not
recognized.
The
enclosed table is the quantitative lower of cost or market analysis, which has
been reviewed by the Company’s independent registered public accounting
firm.
In
connection with the Company’s responses to the comments, the Company hereby
acknowledges as follows:
|
|
·
|
The
Company is responsible for the adequacy and accuracy of the disclosure in
the filing;
|
|
|
·
|
The
staff comments or changes to disclosure in response to staff comments do
not foreclose the Commission from taking any action with respect to the
filing; and
|
|
|
·
|
The
Company may not assert staff comments as defense in any proceeding
initiated by the Commission or any person under the federal securities
laws of the United States.
|
If you
have any questions, please do not hesitate to call me at (801) 264-1060 or (801)
287-8171.
|
Very
truly yours,
|
|
| /s/ Stephen M. Sill | |
| Stephen M. Sill | |
| Vice President, Treasurer and | |
| Chief Financial Officer |
|
Unpaid
|
Date
|
|||||||||||||||||
|
Principal
|
Transferred
|
|||||||||||||||||
|
Date
|
Amount
|
Fair
Value at
|
Unrecognized
|
to
Mortgage
|
||||||||||||||
|
Originally
|
Date
|
on
Date of
|
Repurchase
|
Gains
|
Loans
Held
|
|||||||||||||
|
Loan
No.
|
Sold
|
Repurchased
|
Repurchase
|
Date
|
(Losses)
|
for
Investment
|
Comment
|
|||||||||||
| 0000359018 |
1/3/2007
|
5/25/2007
|
$ | 80,618 | $ | 80,215 | $ | (403 | ) |
5/25/2007
|
||||||||
| 0000353101 |
1/8/2007
|
4/5/2007
|
336,179 | 337,019 | 840 |
4/5/2007
|
||||||||||||
| 0000359820 |
1/8/2007
|
7/5/2007
|
97,266 | 97,266 | - |
7/5/2007
|
||||||||||||
| 0000358565 |
1/10/2007
|
4/6/2007
|
98,024 | 98,514 | 490 |
4/6/2007
|
||||||||||||
| 0000361386 |
1/24/2007
|
4/19/2007
|
272,520 | 276,949 | 4,428 |
4/19/2007
|
||||||||||||
| 0000361909 |
1/26/2007
|
4/18/2007
|
118,526 | 118,378 | (148 | ) |
4/18/2007
|
|||||||||||
| 0000362032 |
1/26/2007
|
5/25/2007
|
221,139 | 216,440 | (4,699 | ) |
5/25/2007
|
|||||||||||
| 0000360538 |
2/1/2007
|
7/5/2007
|
151,384 | 148,924 | (2,460 | ) |
7/5/2007
|
|||||||||||
| 0000364462 |
2/14/2007
|
4/19/2007
|
176,512 | 176,070 | (441 | ) |
4/19/2007
|
|||||||||||
| 0000364111 |
2/16/2007
|
4/19/2007
|
140,230 | 140,581 | 351 |
4/19/2007
|
||||||||||||
| 0000365108 |
2/22/2007
|
7/5/2007
|
228,779 | 228,493 | (286 | ) |
7/5/2007
|
|||||||||||
| 0000363101 |
2/28/2007
|
5/16/2007
|
343,754 | 340,316 | (3,438 | ) |
5/16/2007
|
|||||||||||
| 0000363543 |
3/1/2007
|
5/16/2007
|
229,188 | 232,625 | 3,438 |
5/16/2007
|
||||||||||||
| 0000363163 |
3/2/2007
|
5/25/2007
|
283,182 | 287,430 | 4,248 |
5/25/2007
|
||||||||||||
| 0000367001 |
3/6/2007
|
7/5/2007
|
413,528 | 411,978 | (1,551 | ) |
7/5/2007
|
|||||||||||
| 0000366253 |
3/13/2007
|
7/18/2007
|
165,249 | 160,498 | (4,751 | ) |
7/18/2007
|
|||||||||||
| 0000367878 |
3/19/2007
|
7/23/2007
|
94,479 | 93,298 | (1,181 | ) |
7/23/2007
|
|||||||||||
| 0000368126 |
3/22/2007
|
6/8/2007
|
76,734 | 77,309 | 576 |
6/8/2007
|
||||||||||||
| 0000368489 |
3/22/2007
|
7/5/2007
|
93,720 | 92,782 | (937 | ) |
7/5/2007
|
|||||||||||
| 0000369548 |
3/22/2007
|
7/18/2007
|
223,105 | 219,480 | (3,625 | ) |
7/18/2007
|
|||||||||||
| 0000369672 |
4/2/2007
|
7/18/2007
|
407,882 | 404,823 | (3,059 | ) |
7/18/2007
|
|||||||||||
| 0000371240 |
4/5/2007
|
4/5/2007
|
212,093 | 214,479 | 2,386 |
4/5/2007
|
||||||||||||
| 0000371402 |
4/5/2007
|
4/5/2007
|
139,194 | 141,977 | 2,784 |
4/5/2007
|
||||||||||||
| 0000370997 |
4/17/2007
|
7/25/2007
|
114,759 | 116,337 | 1,578 |
7/25/2007
|
||||||||||||
| 0000372876 |
4/20/2007
|
8/3/2007
|
260,916 | 249,501 | (11,415 | ) |
8/3/2007
|
|||||||||||
| 0000371498 |
4/26/2007
|
7/25/2007
|
426,805 | 424,671 | (2,134 | ) |
7/25/2007
|
|||||||||||
| 0000373738 |
5/3/2007
|
7/25/2007
|
260,564 | 259,261 | (1,303 | ) |
7/25/2007
|
|||||||||||
| 0000373805 |
5/3/2007
|
8/3/2007
|
324,505 | 322,477 | (2,028 | ) |
8/3/2007
|
|||||||||||
| 0000373859 |
5/3/2007
|
7/25/2007
|
262,122 | 256,224 | (5,898 | ) |
7/25/2007
|
|||||||||||
| 0000372868 |
5/4/2007
|
8/15/2007
|
161,550 | 160,338 | (1,212 | ) |
8/15/2007
|
|||||||||||
| 0000377442 |
5/10/2007
|
5/10/2007
|
292,355 | 292,355 | - |
5/10/2007
|
||||||||||||
| 0000376305 |
5/21/2007
|
8/15/2007
|
245,272 | 247,418 | 2,146 |
8/15/2007
|
||||||||||||
| 0000378002 |
5/22/2007
|
7/23/2007
|
298,889 | 293,285 | (5,604 | ) |
7/23/2007
|
|||||||||||
| 0000374865 |
5/23/2007
|
5/23/2007
|
528,019 | 542,539 | 14,521 |
5/23/2007
|
||||||||||||
| 0000373779 |
5/25/2007
|
7/23/2007
|
404,022 | 406,042 | 2,020 |
7/23/2007
|
||||||||||||
| 0000379701 |
5/30/2007
|
8/17/2007
|
395,096 | 387,194 | (7,902 | ) |
8/17/2007
|
|||||||||||
| 0000376921 |
5/31/2007
|
5/29/2007
|
359,532 | 359,981 | 449 |
5/29/2007
|
||||||||||||
| 0000379859 |
5/31/2007
|
7/23/2007
|
96,415 | 95,451 | (964 | ) |
7/23/2007
|
|||||||||||
| 0000377932 |
6/1/2007
|
8/16/2007
|
174,760 | 166,241 | (8,520 | ) |
8/16/2007
|
|||||||||||
| 0000378701 |
6/5/2007
|
7/24/2007
|
874,890 | 882,545 | 7,655 |
7/24/2007
|
||||||||||||
| 0000377762 |
6/6/2007
|
8/15/2007
|
320,170 | 312,966 | (7,204 | ) |
8/15/2007
|
|||||||||||
| 0000378301 |
6/6/2007
|
8/17/2007
|
545,500 | 545,500 | - |
8/17/2007
|
||||||||||||
| 0000379200 |
6/6/2007
|
8/17/2007
|
175,922 | 172,184 | (3,738 | ) |
8/17/2007
|
|||||||||||
| 0000378219 |
6/8/2007
|
6/8/2007
|
700,898 | 711,412 | 10,513 |
6/8/2007
|
||||||||||||
| 0000380975 |
6/11/2007
|
7/23/2007
|
232,393 | 230,360 | (2,033 | ) |
7/23/2007
|
|||||||||||
| 0000378523 |
6/15/2007
|
8/16/2007
|
234,502 | 230,691 | (3,811 | ) |
8/16/2007
|
|||||||||||
| 0000378492 |
6/19/2007
|
8/15/2007
|
434,552 | 429,120 | (5,432 | ) |
8/15/2007
|
|||||||||||
| 0000380891 |
6/28/2007
|
8/24/2007
|
210,581 | 212,950 | 2,369 |
8/24/2007
|
||||||||||||
| 0000383783 |
6/28/2007
|
9/5/2007
|
276,201 | 276,201 | - |
9/5/2007
|
||||||||||||
|
Unpaid
|
Date
|
|||||||||||||||||
|
Principal
|
Transferred
|
|||||||||||||||||
|
Date
|
Amount
|
Fair
Value at
|
Unrecognized
|
to
Mortgage
|
||||||||||||||
|
Originally
|
Date
|
on
Date of
|
Repurchase
|
Gains
|
Loans
Held
|
|||||||||||||
|
Loan
No.
|
Sold
|
Repurchased
|
Repurchase
|
Date
|
(Losses)
|
for
Investment
|
Comment
|
|||||||||||
| 0000383111 |
6/29/2007
|
10/15/2007
|
$ | 450,297 | $ | 450,297 | $ | - |
10/15/2007
|
|||||||||
| 0000384760 |
7/5/2007
|
9/7/2007
|
59,556 | 59,556 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000383321 |
7/6/2007
|
9/7/2007
|
87,273 | 87,273 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000384014 |
7/6/2007
|
9/7/2007
|
121,398 | 121,398 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000384048 |
7/6/2007
|
10/2/2007
|
67,345 | 67,850 | 505 |
10/2/2007
|
||||||||||||
| 0000384301 |
7/12/2007
|
11/2/2007
|
89,339 | 91,684 | 2,345 |
11/2/2007
|
||||||||||||
| 0000386724 |
7/13/2007
|
10/23/2007
|
367,577 | 368,496 | 919 |
10/23/2007
|
||||||||||||
| 0000384842 |
7/18/2007
|
9/7/2007
|
91,326 | 91,326 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000383794 |
7/20/2007
|
9/7/2007
|
12,711 | 12,711 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000384918 |
7/20/2007
|
9/7/2007
|
69,096 | 69,096 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000380779 |
7/23/2007
|
11/2/2007
|
32,612 | 33,753 | 1,141 |
11/2/2007
|
||||||||||||
| 0000383208 |
7/23/2007
|
10/2/2007
|
288,808 | 288,808 | - |
10/2/2007
|
||||||||||||
| 0000384902 |
7/23/2007
|
8/8/2007
|
275,615 | 271,481 | (4,134 | ) |
8/8/2007
|
|||||||||||
| 0000387455 |
7/23/2007
|
9/7/2007
|
148,091 | 148,091 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000386316 |
7/27/2007
|
1/10/2008
|
76,040 | 76,040 | - |
1/10/2008
|
||||||||||||
| 0000387760 |
7/27/2007
|
9/7/2007
|
52,415 | 52,415 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000386848 |
7/30/2007
|
9/7/2007
|
23,552 | 23,552 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000387513 |
7/30/2007
|
11/8/2007
|
321,637 | 329,276 | 7,639 |
11/8/2007
|
||||||||||||
| 0000388152 |
7/30/2007
|
9/7/2007
|
45,805 | 45,805 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000383602 |
7/31/2007
|
11/8/2007
|
518,174 | 518,174 | - |
11/8/2007
|
||||||||||||
| 0000383603 |
7/31/2007
|
9/7/2007
|
63,680 | 63,680 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000386048 |
7/31/2007
|
9/7/2007
|
133,116 | 133,116 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000386780 |
7/31/2007
|
9/7/2007
|
110,480 | 110,480 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000388419 |
7/31/2007
|
9/7/2007
|
172,853 | 172,853 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000388472 |
7/31/2007
|
9/7/2007
|
33,492 | 33,492 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000388498 |
7/31/2007
|
11/6/2007
|
377,907 | 383,575 | 5,669 |
11/6/2007
|
||||||||||||
| 0000388621 |
7/31/2007
|
9/7/2007
|
101,723 | 101,723 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000386108 |
8/2/2007
|
9/12/2007
|
183,349 | 187,016 | 3,667 |
9/12/2007
|
||||||||||||
| 0000386202 |
8/2/2007
|
9/12/2007
|
291,258 | 294,171 | 2,913 |
9/12/2007
|
||||||||||||
| 0000387432 |
8/2/2007
|
10/9/2007
|
149,738 | 152,920 | 3,182 |
10/9/2007
|
||||||||||||
| 0000387770 |
8/2/2007
|
9/24/2007
|
142,583 | 146,148 | 3,565 |
9/24/2007
|
||||||||||||
| 0000387785 |
8/2/2007
|
10/15/2007
|
59,554 | 59,554 | - |
10/15/2007
|
||||||||||||
| 0000383933 |
8/3/2007
|
11/8/2007
|
141,977 | 144,284 | 2,307 |
11/8/2007
|
||||||||||||
| 0000385514 |
8/3/2007
|
11/2/2007
|
107,018 | 107,018 | - |
11/2/2007
|
||||||||||||
| 0000385541 |
8/3/2007
|
9/7/2007
|
82,294 | 82,294 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000386886 |
8/3/2007
|
11/6/2007
|
190,418 | 190,418 | - |
11/6/2007
|
||||||||||||
| 0000388616 |
8/3/2007
|
11/6/2007
|
146,115 | 146,115 | - |
11/6/2007
|
||||||||||||
| 0000388687 |
8/3/2007
|
9/7/2007
|
47,523 | 47,523 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000389017 |
8/3/2007
|
9/7/2007
|
24,313 | 24,313 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000384348 |
8/6/2007
|
11/6/2007
|
163,561 | 163,561 | - |
11/6/2007
|
||||||||||||
| 0000380328 |
8/8/2007
|
11/8/2007
|
730,330 | 730,330 | - |
11/8/2007
|
||||||||||||
| 0000383148 |
8/8/2007
|
9/7/2007
|
124,616 | 124,616 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000387151 |
8/8/2007
|
11/6/2007
|
186,961 | 186,961 | - |
11/6/2007
|
||||||||||||
| 0000389674 |
8/8/2007
|
9/7/2007
|
45,424 | 45,424 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000383141 |
8/10/2007
|
11/6/2007
|
498,008 | 500,498 | 2,490 |
11/6/2007
|
||||||||||||
| 0000388263 |
8/10/2007
|
11/6/2007
|
184,244 | 184,244 | - |
11/6/2007
|
||||||||||||
| 0000388413 |
8/10/2007
|
9/7/2007
|
51,402 | 51,402 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000389295 |
8/10/2007
|
11/6/2007
|
211,963 | 211,963 | - |
11/6/2007
|
||||||||||||
| 0000389373 |
8/10/2007
|
9/7/2007
|
50,438 | 50,438 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000390584 |
8/10/2007
|
9/7/2007
|
20,728 | 20,728 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000387861 |
8/13/2007
|
9/7/2007
|
64,435 | 64,435 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000390568 |
8/15/2007
|
11/6/2007
|
180,303 | 181,204 | 902 |
11/6/2007
|
||||||||||||
| 0000387977 |
8/16/2007
|
11/6/2007
|
448,085 | 448,085 | - |
11/6/2007
|
||||||||||||
| 0000391441 |
8/17/2007
|
9/7/2007
|
35,183 | 35,183 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
|
Unpaid
|
Date
|
|||||||||||||||||
|
Principal
|
Transferred
|
|||||||||||||||||
|
Date
|
Amount
|
Fair
Value at
|
Unrecognized
|
to
Mortgage
|
||||||||||||||
|
Originally
|
Date
|
on
Date of
|
Repurchase
|
Gains
|
Loans
Held
|
|||||||||||||
|
Loan
No.
|
Sold
|
Repurchased
|
Repurchase
|
Date
|
(Losses)
|
for
Investment
|
Comment
|
|||||||||||
| 0000389620 |
8/20/2007
|
9/7/2007
|
$ | 48,660 | $ | 48,660 | $ | - |
9/7/2007
|
Second
mortgage
|
||||||||
| 0000392712 |
8/22/2007
|
9/7/2007
|
90,105 | 90,105 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000389032 |
8/23/2007
|
3/22/2008
|
388,488 | 393,344 | 4,856 |
3/22/2008
|
||||||||||||
| 0000389795 |
8/23/2007
|
9/7/2007
|
116,754 | 116,754 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000391266 |
8/23/2007
|
2/6/2008
|
285,985 | 289,560 | 3,575 |
2/6/2008
|
||||||||||||
| 0000389080 |
8/27/2007
|
9/7/2007
|
58,159 | 58,159 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000390829 |
8/27/2007
|
9/7/2007
|
61,284 | 61,284 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000388125 |
8/28/2007
|
10/18/2007
|
163,487 | 167,370 | 3,883 |
10/18/2007
|
||||||||||||
| 0000391848 |
8/28/2007
|
1/10/2008
|
279,006 | 280,052 | 1,046 |
1/10/2008
|
||||||||||||
| 0000388411 |
8/30/2007
|
11/6/2007
|
105,766 | 108,014 | 2,248 |
11/6/2007
|
||||||||||||
| 0000386777 |
8/31/2007
|
3/22/2008
|
284,456 | 292,990 | 8,534 |
3/22/2008
|
||||||||||||
| 0000390339 |
8/31/2007
|
9/7/2007
|
50,432 | 50,432 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000390635 |
8/31/2007
|
11/6/2007
|
488,577 | 488,577 | - |
11/6/2007
|
||||||||||||
| 0000391526 |
8/31/2007
|
11/6/2007
|
170,101 | 168,825 | (1,276 | ) |
11/6/2007
|
|||||||||||
| 0000391531 |
8/31/2007
|
9/7/2007
|
20,993 | 20,993 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000392283 |
8/31/2007
|
11/6/2007
|
291,486 | 292,579 | 1,093 |
11/6/2007
|
||||||||||||
| 0000392717 |
8/31/2007
|
11/6/2007
|
76,395 | 76,968 | 573 |
11/6/2007
|
||||||||||||
| 0000393295 |
8/31/2007
|
2/6/2008
|
213,907 | 214,441 | 535 |
2/6/2008
|
||||||||||||
| 0000393413 |
8/31/2007
|
10/23/2007
|
61,416 | 63,182 | 1,766 |
10/23/2007
|
||||||||||||
| 0000392734 |
9/6/2007
|
9/7/2007
|
16,450 | 16,450 | - |
9/7/2007
|
Second
mortgage
|
|||||||||||
| 0000393755 |
9/14/2007
|
11/6/2007
|
307,655 | 308,808 | 1,154 |
11/6/2007
|
||||||||||||
| 0000397794 |
9/28/2007
|
11/6/2007
|
490,469 | 503,344 | 12,875 |
11/6/2007
|
||||||||||||
| 0000394599 |
10/3/2007
|
2/6/2008
|
34,484 | 34,484 | - |
2/6/2008
|
||||||||||||
| 0000398973 |
10/12/2007
|
1/30/2008
|
193,848 | 196,998 | 3,150 |
1/30/2008
|
||||||||||||
| 0000397237 |
10/18/2007
|
10/26/2007
|
229,819 | 234,416 | 4,596 |
10/26/2007
|
||||||||||||
| 0000397546 |
10/18/2007
|
2/6/2008
|
290,205 | 292,744 | 2,539 |
2/6/2008
|
||||||||||||
| 0000397836 |
10/29/2007
|
1/17/2008
|
249,140 | 250,697 | 1,557 |
1/17/2008
|
||||||||||||
| 0000401347 |
11/1/2007
|
2/6/2008
|
285,493 | 290,132 | 4,639 |
2/6/2008
|
||||||||||||
| 0000399618 |
11/2/2007
|
3/3/2008
|
380,195 | 381,145 | 950 |
3/3/2008
|
||||||||||||
| 0000400563 |
11/2/2007
|
3/3/2008
|
178,995 | 180,562 | 1,566 |
3/3/2008
|
||||||||||||
| 0000401874 |
11/2/2007
|
3/3/2008
|
333,152 | 333,984 | 833 |
3/3/2008
|
||||||||||||
| 0000398717 |
11/7/2007
|
3/3/2008
|
144,115 | 145,376 | 1,261 |
3/3/2008
|
||||||||||||
| 0000401129 |
11/7/2007
|
1/17/2008
|
185,702 | 187,327 | 1,625 |
1/17/2008
|
||||||||||||
| 0000402579 |
11/8/2007
|
3/3/2008
|
76,192 | 76,859 | 667 |
3/3/2008
|
||||||||||||
| 0000401965 |
11/15/2007
|
1/17/2008
|
115,918 | 116,353 | 435 |
1/17/2008
|
||||||||||||
| 0000401640 |
11/19/2007
|
1/17/2008
|
211,187 | 210,131 | (1,056 | ) |
1/17/2008
|
|||||||||||
| 0000402731 |
11/19/2007
|
3/22/2008
|
312,154 | 308,642 | (3,512 | ) |
3/22/2008
|
|||||||||||
| 0000403623 |
11/19/2007
|
3/22/2008
|
93,729 | 95,135 | 1,406 |
3/22/2008
|
||||||||||||
| 0000403657 |
11/19/2007
|
3/22/2008
|
126,225 | 127,961 | 1,736 |
3/22/2008
|
||||||||||||
| 0000392356 |
11/28/2007
|
2/6/2008
|
64,205 | 64,285 | 80 |
2/6/2008
|
||||||||||||
| 0000398830 |
12/3/2007
|
4/5/2008
|
265,824 | 265,824 | - |
4/5/2008
|
||||||||||||
| 0000403313 |
12/3/2007
|
3/22/2008
|
231,169 | 230,880 | (289 | ) |
3/22/2008
|
|||||||||||
| 0000403460 |
12/3/2007
|
3/22/2008
|
269,530 | 275,931 | 6,401 |
3/22/2008
|
||||||||||||
| 0000403834 |
12/3/2007
|
2/15/2008
|
177,994 | 178,439 | 445 |
2/15/2008
|
||||||||||||
| 0000404076 |
12/3/2007
|
3/22/2008
|
272,738 | 277,511 | 4,773 |
3/22/2008
|
||||||||||||
| 0000404161 |
12/3/2007
|
3/22/2008
|
414,833 | 418,981 | 4,148 |
3/22/2008
|
||||||||||||
| 0000405156 |
12/3/2007
|
3/22/2008
|
300,564 | 303,570 | 3,006 |
3/22/2008
|
||||||||||||
| 0000405179 |
12/3/2007
|
3/22/2008
|
63,509 | 63,747 | 238 |
3/22/2008
|
||||||||||||
| 0000406217 |
12/3/2007
|
3/22/2008
|
367,155 | 364,401 | (2,754 | ) |
3/22/2008
|
|||||||||||
|
Unpaid
|
Date
|
|||||||||||||||||
|
Principal
|
Transferred
|
|||||||||||||||||
|
Date
|
Amount
|
Fair
Value at
|
Unrecognized
|
to
Mortgage
|
||||||||||||||
|
Originally
|
Date
|
on
Date of
|
Repurchase
|
Gains
|
Loans
Held
|
|||||||||||||
|
Loan
No.
|
Sold
|
Repurchased
|
Repurchase
|
Date
|
(Losses)
|
for
Investment
|
Comment
|
|||||||||||
| 0000399498 |
12/5/2007
|
4/5/2008
|
$ | 133,408 | $ | 135,909 | $ | 2,501 |
4/5/2008
|
|||||||||
| 0000402910 |
12/7/2007
|
3/22/2008
|
84,303 | 83,986 | (316 | ) |
3/22/2008
|
|||||||||||
| 0000404475 |
12/7/2007
|
3/22/2008
|
104,584 | 104,584 | - |
3/22/2008
|
||||||||||||
| 0000405718 |
12/10/2007
|
4/2/2008
|
403,441 | 400,415 | (3,026 | ) |
4/2/2008
|
|||||||||||
| 0000401355 |
12/13/2007
|
4/2/2008
|
198,604 | 198,604 | - |
4/2/2008
|
||||||||||||
| 0000403433 |
12/21/2007
|
3/6/2008
|
60,372 | 61,353 | 981 |
3/6/2008
|
||||||||||||
| 0000404292 |
12/21/2007
|
4/14/2008
|
561,902 | 561,902 | - |
4/14/2008
|
||||||||||||
| 0000406046 |
12/31/2007
|
4/2/2008
|
355,669 | 356,113 | 445 |
4/2/2008
|
||||||||||||
| 0000407797 |
12/31/2007
|
4/14/2008
|
419,647 | 431,711 | 12,065 |
4/14/2008
|
||||||||||||
| 0000408472 |
12/31/2007
|
4/14/2008
|
271,094 | 268,044 | (3,050 | ) |
4/14/2008
|
|||||||||||
| 0000405587 |
1/3/2008
|
5/2/2008
|
88,655 | 90,539 | 1,884 |
5/2/2008
|
||||||||||||
| 0000407451 |
1/3/2008
|
3/6/2008
|
101,156 | 101,283 | 126 |
3/6/2008
|
||||||||||||
| 0000409219 |
1/10/2008
|
5/7/2008
|
256,620 | 254,695 | (1,925 | ) |
5/7/2008
|
|||||||||||
| 0000405832 |
1/17/2008
|
5/2/2008
|
286,063 | 286,063 | - |
5/2/2008
|
||||||||||||
| 0000409945 |
1/17/2008
|
5/2/2008
|
153,398 | 154,165 | 767 |
5/2/2008
|
||||||||||||
| 0000410311 |
1/17/2008
|
5/2/2008
|
101,733 | 100,716 | (1,017 | ) |
5/2/2008
|
|||||||||||
| 0000410513 |
1/17/2008
|
5/7/2008
|
295,687 | 298,274 | 2,587 |
5/7/2008
|
||||||||||||
| 0000411123 |
1/17/2008
|
5/7/2008
|
359,280 | 359,280 | - |
5/7/2008
|
||||||||||||
| 0000408350 |
1/25/2008
|
5/2/2008
|
148,812 | 148,812 | - |
5/2/2008
|
||||||||||||
| $ | 36,290,743 | $ | 36,379,793 | $ | 89,050 | |||||||||||||